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back really. i'm just focused on trying to figure out what to do in this environment like i would be in any which brings us to the stock market. already sending a message to washington perhaps about the necessity of a deal on the fiscal cliff. six out of the last seven sessions have been negative. down more than 5% on fears about it but you've been bringing up the market action similarity to a certain extent to 20 plus years ago. a year ago let's not forget we were starting to deal with europe. it did not end until we got ltro, long-term refinancing operations from ecb that said we're going to -- it's not going to go bankrupt today. that's when we were watching italy above 7%. today those ten-year yields up 4.5, 4.6. >> talk about how italy has come. the economy is better than other countries. northern part of italy is increasing industrial production. that's impressive. they never gave up. italian banks some are happy with no problems funding. the reason i go back which is of the analogy why i go back that far. that's a tuesday, wednesday thing in europe. you focus on when ecb me
. the populations and politics are more populous. much more unpredictable environment with the event occurring here as we saw it in 2008. >> okay. p.j., tell me about this iron dome defense system. what that is about and the upgraded hamas weaponry. where does this weaponry come from? mouth how does all of the technology change the equip there? >> hamas upgraded missile systems, undoubtedly support for a variety of countries. particularly iran. because of the political changes here, egypt has relaxed its enforcement of the border between gaza and egypt making smuggling of these systems in to gaza more easy. then of course i will you have a little bit of the -- the building of an ingij nous missile capability in gaza since sit israel retreated in 2007. the iron dome is a major project of cooperation between israel and the united states. it undercuts one of the major arguments in the campaign that there was a lack of attention to israel's defense needs when in fact there is a great manifestation of significant security cooperation and obviously what we are seeing is it with was not a perfect system.
are being formed today in an environment that's much, much more radical than was the case nearly a decade earlier. i think there are some important lessons that the u.s. can learn from iraq and from afghanistan and from what's taking place there. but again the thing i would take away and the thing i would really stress to people is that this is not a war that the u.s. can win on its own. it's very -- it's very tempting for the u.s. to see a problem and to want to go in and solve it all the way. and i think there has to be a realization that sometimes being so pro active and carrying out so -- proactive and carrying out so many missile strikes and drone strikes can actually have a negative impact. >> ibrahim, did you want to chime in on this one? >> well, i didn't hear the question. i have a hard time hearing from the audience. but what greg said made sense to me so thank you. [laughter] >> i'm sorry. i'll start repeating the question to make sure we can get it. >> thank you. >> in the back. >> thank you. good morning. my name is giancarlo gonzalez with talk radio service. yemeni president
are looking at, as you said, an environment in which people are in panic mode over the fiscal cliff. i think there is a lot of support, actually, because the population does not seem to understand what the fiscal cliff is and what it means. what they are hearing on television is a lot of hype about what will happen if the fiscal cliff is not avoided. that is actually generating quite a bit of support for both sides to come together. it seems adult. it seems like the right thing to do. put your partisan differences aside for the country, and find some way to avoid the cliff. what that means in practice is striking some kind of deal, what we have heard of, as a grand bargain. it is important to keep in mind that the grand bargain itself, is really a form of austerity. this is an austerity plan. when you have an economy that is still struggling to find its feet, and you are talking about imposing austerity, i think we have seen pretty clearly, watching europe over the last 3.5 years -- that is not a good idea. we definitely have time to start -- to stop and get this right, before we follow gree
Search Results 0 to 4 of about 5 (some duplicates have been removed)